BUNKER PRICES: G20-VLSFO Index Drops to Three-Week Low

by Ship & Bunker News Team
Thursday May 2, 2024

Bunker fuel prices declined at most ports on Wednesday, with global average VLSFO prices slipping to the lowest level in almost three weeks.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $3.50/mt to $658.50/mt on Wednesday, reaching the lowest level since March 13. The G20-HSFO Index slipped by $1/mt to  $550/mt, while the G20-MGO Index lost $2.50/mt to $848.50/mt.

ICE Brent crude futures fell by $2.89/bl to $83.44/bl on Wednesday.

VLSFO prices at the top ports mostly followed a negative trend. At Singapore prices fell by $1/mt to $644.50/mt, at Rotterdam they declined by $10.50/mt to $590/mt, at Fujairah they rose by $0.50/mt to $643/mt, and at Houston they dropped by $11/mt to $608.50/mt.

On Thursday morning Brent futures were trading up by $0.56/bl from the previous session's close at $84/bl as of 5:54 AM in London. In metric tonne terms that would be equivalent to a $4.22/mt rise in bunker prices.